Economic models are used to

A) represent the complexities of economic environments.
B) explain every detail of an economic theory.
C) explore decision making by individuals, firms and other organizations.
D) build physical renditions of government construction projects.

C

Economics

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Refer to the production possibilities frontier in the figure above. Suppose a country is producing at point a. A movement to point ________ means that the country ________

A) d; must give up 20 million capital goods B) e; is not operating efficiently C) d; gives up 10 million consumer goods D) b; is producing at an inefficient point

Economics

Refer to Scenario 2. What percentage of the variation in the dependent variable, Market Value, is explained by the regression model?

What will be an ideal response?

Economics